Coal India’s net profit surged 57% year-on-year (YoY) to ₹6,547 crore in the second quarter, driven by higher offtake and improved price realisations that offset an increase in input costs.

The state-owned coal miner declared a second interim dividend of ₹10.25 per equity share.

Offtake during the quarter ended September increased 12% YoY to 186.34 million tonnes (MT), primarily driven by higher power demand. Average price realisation, covering fuel supply agreements, e-auctions, washed coal and other categories, rose 7% YoY to ₹2,346.21 per tonne.

The Kolkata-headquartered company’s overall production grew 4% YoY to 151.37 MT in the reported quarter, falling short of its target of 157.83 MT.

Revenue from the sale of products increased 21% YoY to ₹43,724 crore. Overall revenue also rose 21% to ₹44,179 crore.

The company’s cost of materials — which primarily includes expenditure on explosives, oil and lubricants, heavy earth-moving machinery, spares and timber, among other items — increased 20% YoY to ₹2,752 crore during the quarter.